Wells Fargo plans three-year collared floaters with 0.75%-2.75% range

By Devika Patel

Knoxville, Tenn., April 5 – Wells Fargo & Co. plans to price collared floating-rate notes due April 22, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be three-month Libor plus 275 basis points, with a minimum rate of 0.75% per year and up to a maximum rate of 2.75% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986RK42) will price on April 19 and settle on April 22.

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